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  • UG-2 Rulebook Structure and Format

    • UG-2.1 Rulebook Structure

      • Rulebook Volumes

        • UG-2.1.1

          The Rulebook is divided into 7 Volumes, covering different areas of financial services activity, as follows:

          Volume 1 Conventional Banks
          Volume 2 Islamic Banks
          Volume 3 Insurance
          Volume 4 Investment Business
          Volume 5 Specialised Activities
          Volume 6 Capital Markets
          Volume 7 Collective Investment Undertakings
          Amended: July 2012
          October 07

        • UG-2.1.2

          Volume 5 (Specialised Activities), covers money changers; financing companies; representative offices; administrators; trust service providers, micro-finance institutions and providers of ancillary services to the financial sector.

          Amended: April 2013
          Amended: January 2011
          October 2007

      • Rulebook Contents (overview)

        • UG-2.1.3

          Except for Volumes 5, 6 and 7, the basic structure of each Rulebook is the same. Each Volume starts with a contents page and User's Guide. Subsequent material is organised underneath the following headings:

          (a) High-level Standards;
          (b) Business Standards;
          (c) Prudential Requirements;
          (d) Reporting Requirements;
          (e) Enforcement and Redress; and, where appropriate
          (f) Sector Guides
          Amended: April 2013
          Amended: July 2012
          Amended: January 2011
          October 2007

        • UG-2.1.4

          Volume 5 is organised by the Category of specialised firm concerned, whilst Volume 6 by subject area (authorised exchanges; issuers of securities etc).

          October 07

        • UG-2.1.5

          The material in Volumes 1-4 is contained in Modules, each covering a specific area of requirements (e.g. High-level Controls). In turn, each Module is divided into Chapters, Sections and Paragraphs, as detailed below.

          October 07

        • UG-2.1.6

          Each Volume has its own appendix Volume containing relevant reporting and authorisation forms; a glossary; and any supplementary information. In all cases, the main Volume is called "Part A" and the appendix Volume is called "Part B".

          October 07

    • UG-2.2 Volume Structure

      • Modules

        • UG-2.2.1

          Rulebook Volumes are subdivided into Modules, arranged in groups according to their subject matter, underneath the headings listed in Paragraph UG 2.1.3 above.

          October 07

        • UG-2.2.2

          Each Module in a Volume is referenced using a two- or three-letter code which is usually a contraction or abbreviation of its title. These codes are used for cross-referencing within the text.

          Amended: July 2012
          October 07

      • Chapters

        • UG-2.2.3

          Each Module consists of Chapters, categorised into two types:

          (a) A standard introductory Chapter (referenced with a letter: e.g. UG A); and
          (b) Chapters containing the substantive content of the Module (referenced with a number: e.g. CA 1, CA 2, etc.)
          October 07

        • UG-2.2.4

          The introductory Chapter summarises the purpose of the Module, its history (in terms of changes made to its contents). A separate introductory Chapter also prescribes the scope of application of the Module's requirements.

          October 07

      • Sections and Paragraphs

        • UG-2.2.5

          Chapters are further sub-divided into Sections (numbered consecutively after the Chapter number: e.g. FC 1.1, FC 1.2, FC 1.3 etc). In turn, Sections are sub-divided into Paragraphs (numbered consecutively after the Chapter and Section numbers: e.g. FC 1.1.1, FC 1.1.2, FC 1.1.3 etc.). Where appropriate, sub-Section headings may be used, to guide the reader through a Section: sub-Section headings are italicised and unnumbered, and act purely as an indicator (without limitation as to the status of the Paragraphs that follow.

          October 07

      • Table of Contents

        • UG-2.2.6

          Each Volume's contents page lists all the Modules contained within it (Part A), and the information contained in the relevant appendix Volume (Part B).

          October 07

        • UG-2.2.7

          The contents page of each Module lists the Chapters, Sections and the latest version date of each Section in issue.

          October 07

    • UG-2.3 Format and Page Layout

      • Headers

        • UG-2.3.1

          The top of each page in the Rulebook identifies the Volume, Module and Chapter in question. Each Module is a separate document. New Chapters start on a fresh page.

          October 07

      • Footers

        • UG-2.3.2

          The bottom of each page in the Rulebook (on the left hand side) identifies the Module in question, its Section and page number. Page numbering starts afresh for each Section: the total number of pages in each respective Section is shown as well as the individual page number. The bottom right hand side shows an end calendar quarter issue date. The Contents Page for each Module, and each Section in a Module, are each given their own issue date. In addition, the Module contents page lists the latest issue date for each Section in that Module. The Contents page thus acts as a summary checklist of the current issue date in force for each Section. Further explanation is provided in Section UG-3.1 below.

          October 07

      • Defined Terms

        • UG-2.3.3

          Defined terms used in the Rulebook are underlined. Each Volume has its own glossary listing defined terms and giving their meaning. Definitions of terms used apply only to the Volume in question. It is possible for the same term to be used in a different Volume with a different meaning.

          October 07

      • Cross-references

        • UG-2.3.4

          Any cross-references given in a text state the Module code, followed (where appropriate) by the numbering convention for any particular Chapter, Section or paragraph being referred to. For example, the cross-reference FC-1.2.3 refers to the third Paragraph in the second Section of the first Chapter of the Financial Crime Module. Many references will be quite general, referring simply to a particular Module, Chapter or Section rather than a specific Paragraph.

          October 07

      • Text Format

        • UG-2.3.5

          Each Paragraph is assigned a complete reference to the Module, Chapter, and Section, as well as its own Paragraph number, as explained in UG-2.3.4 above. The format of the Paragraph reference and Paragraph text indicates their status as either a Rule or Guidance, as explained in UG-1.2.4 above.

          October 07

        • UG-2.3.6

          When cross-referring to specific Paragraphs, and it is important to make clear the status of the Paragraph in question as a Rule or Guidance, then the words 'Rule' or 'Guidance' may be used instead of 'Paragraph', followed by the reference number (e.g. 'As required by Rule FC-1.1.1, licensees must...').

          October 07

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